25% of Volvo models sold in H1 2021 are xEVs, highest for major manufacturers

Volvo Cars has just posted its best half-year results in terms of sales and profit in its 94-year history with 380,757 units sold worldwide. Of the total units, 25% of sales consist of fully-electric (EV) and plug-in hybrid (PHEV) models (93,795 units).

This gives the Swedish carmaker the highest electrification share as a proportion of total sales among traditional carmakers.

In March, Volvo announced plans to go fully electric by the year 2030. Around the same time, it launched its first EV designed from the ground up, the Volvo C40 Recharge.

Also read: Volvo Cars to go fully electric by 2030, says no future for petrol engine cars

To ensure its focus on electrification, Volvo Cars merged its internal combustion engine operations with parent company, Geely Holding to form Aurobay. Through this merger, the Swedes will realise synergies as well as securing a supply of competitive combustion engines for its hybrid powertrains until the company is fully electric.

Also read: Geely and Volvo’s new joint powertrain operations, Aurobay could supply future Proton models

Volvo Cars CEO, Håkan Samuelsson was quoted in the company’s latest interim report that the high sales figures for its electrified vehicles bolster their aim to be the fastest transforming company in the industry.

He has also stated plans to join forces with leading Swedish battery company Northvolt to develop and manufacture next-generation battery cells for future models. In May, Volvo announced that it is evaluating a possible initial public offering (IPO) on Nasdaq Stockholm. The evaluation process continues.

Volvo might be on track to its all-electric goal with many markets only offering electrified models. That includes Malaysia, in which the entire Volvo line-up only consists of PHEV models.

Also read: Review: 2021 Volvo XC40 T5 Recharge - The gateway drug to pure EV ownership